In 2018, when every body are panic after RBI notice to bank , not to accept crypto. I hold crypto and told all my friends that no need to panic. At that time Switzerland already regulated and USA also regulating the crypto. In future India will also regulate in near future because India follows USA almost. In 2021 government told that they are working on crypto regulation because govt knows this is future and this storm can't be stopped and also govt knows that By regulation govt can earn a lot by tax.
India Banning Crypto?
- Thread starter andykym
- Start date
mohd ajmal khan
Junior Member
- Aug 2, 2018
- 110
- 49
Yes, gov is planning to ban and will make the crypto trade a criminal offense and 50% tax on current holding. Gov is planning to propose the bill in March 2022 . But it is totally on gov if they propose a bill in parliament.
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Bro, Crypto will not be banned in India.
andykym
Newbie
- Oct 1, 2021
- 17
- 17
Never heard of if , thanks for sharing
- Apr 10, 2020
- 3,303
- 872
Yes recent news is that they are regulating.
FredJones
Power Member
- Jan 11, 2015
- 560
- 238
I am in and from India. I am always confused on whether crypto is legal or not I India. Too many folks say it is illegal, but none has ever pointed their finger to a law and used that to show me, in my circle. Can someone point out the precise law or set of laws that makes it illegal? Or is it all a heresy?
Sicknigajay
Regular Member
- Oct 24, 2016
- 354
- 76
As of right now Crypto is not legal nor illegal.
Indian government only plans to introduce the coins that are pre-approved and will levy high taxes.
For more head here and read
https://m.economictimes.com/news/ec...ban-may-be-rescinded/articleshow/87786053.cms
TBH I feel the final verdict is gonna be bad
They can't ban and then won't ban but the taxes will be hard on anyone who is involved with crypto.
Indian government only plans to introduce the coins that are pre-approved and will levy high taxes.
For more head here and read
https://m.economictimes.com/news/ec...ban-may-be-rescinded/articleshow/87786053.cms
TBH I feel the final verdict is gonna be bad
They can't ban and then won't ban but the taxes will be hard on anyone who is involved with crypto.
AlexanderTheGreat
Power Member
- Jan 23, 2021
- 738
- 1,364
Well, you can also live without Crypto in India too.
There are many other cool things like Indian Food, Movies etc.
There are many other cool things like Indian Food, Movies etc.
- Feb 28, 2019
- 7,432
- 7,873
Govt hasn't decided whether it's legal or illegal. So, it's in an infinite loop of decisions. The Govt. accepting crypto might make or break the economy. Moreover, there are some cases where kidnappers demanded money in bitocoins cosidering it to be anonymous. The recent investigations in drug trafficking revealed that the payments were made in bitcoins. So, the biggest challenge for the Govt is to allow crypto without messing up the economy and to regulate it to control crimes. This will take time and not an easy task for a growing economy like India. It might take 2-3 years to pass a bill unless there is huge pressure from the public.